Nexalin Technology issues letter to shareholders

Nexalin Technology provided the following letter to shareholders from the Company’s CEO, Mark White, including updates regarding the growing clinical data supporting its non-invasive, frequency-based deep brain stimulation device, as well as, progress on its new Gen-3 HALO Clarity & Virtual Clinic model:”We’ve hit the ground running in 2024 with a series of favorable developments that solidify Nexalin’s position as an innovator in the field. We recently announced positive results from a clinical study conducted at the University of California, San Diego… We also announced encouraging results from a recent clinical study of our Gen-2 tACS device for treating adult patients with chronic insomnia… Additionally, the Nexalin clinical teams have published 6 additional clinical studies in recognized international peer-reviewed journals evaluating the safety, tolerability and efficacy of the new advanced 15 milliamp waveform.. Building on our strong clinical momentum, we recently unveiled the HALO Clarity, a headset powered by various processing systems and microprocessors to deliver a new Gen-3 waveform at 15 milliamps… Our Virtual Clinic will allow patients to be treated by the HALO within the privacy of their own homes… The development of the Virtual Clinic is far along and is expected to support the monitoring and collection of HALO use data by medical professionals in a seamless manner resulting in an integrated workflow – from assessment, to authorization, to shipment – all under medical supervision… On the international front, we announced regulatory approval in Oman, and commenced sales of our Gen-2 Neurostimulation Device to a new Mental Health Center in Oman dedicated to our technology… We look forward to securing approval in other countries, with the ultimate goal of gaining FDA clearance in the United States… Nexalin continues to innovate and enhance our IP portfolio… The global mental health crisis continues to be a pressing concern. Nexalin remains steadfast in our commitment to developing safe and effective treatments that could be used to alleviate the burden of anxiety, insomnia, depression and other mental health conditions…Overall, we believe our neurostimulation device has the potential to transform the standard of care for the treatment of mental health disorders, a massive global market estimated to be $383 billion in 2020 and projected to reach $537 billion by 2030. “